Dominion E&P Announces First Production At Triton/Goldfinger

-New subsea tiebacks support restored Gulf operations at world’s deepest dry-tree spar

Dec 15, 2005

December 15, 2005

HOUSTON – Dominion Exploration and Production, a wholly owned subsidiary of Dominion (NYSE: D), has begun production from the Triton and Goldfinger subsea wells, located 140 miles southeast of New Orleans on Mississippi Canyon Blocks 771, 772 and 728 in the Gulf of Mexico.

Triton/Goldfinger consists of three subsea wells connected to the Devils Tower floating production system via insulated six-inch by ten-inch diameter flowlines. Devils Tower, the world’s deepest dry-tree spar, is owned by Williams (NYSE: WMB) and operated by Dominion E&P in 5,610 feet of water on Mississippi Canyon Block 773.

The six-mile tieback was accomplished with a minimal 3.5 days of production shut-in time on the Devils Tower spar, and the wells were ready for commissioning a few days before Hurricane Katrina struck in late August. Since then, sustained production from Devils Tower has been limited by damage to downstream infrastructure owned by other companies.

Now that more downstream infrastructure has become available, the subsea wells have been brought on line, said Kevin Guilbeau, senior vice president and general manager.

Dominion E&P owns a 75 percent working interest in Devils Tower, including the Triton and Goldfinger tiebacks. Pioneer Natural Resources Company (NYSE: PXD) owns the remaining 25 percent.

Dominion, the parent company of Dominion E&P, is one of the nation's largest producers of energy, with a portfolio of about 28,100 megawatts of generation, about 6 trillion cubic feet equivalent of proved natural gas reserves and 7,900 miles of natural gas transmission pipeline. Dominion also operates the nation's largest underground natural gas storage system with more than 965 billion cubic feet of storage capacity and serves retail energy customers in nine states. For more information about Dominion, visit the company’s website at www.dom.com.

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CONTACTS:    
Media: David Auchter, 281-873-3661  
     
Analysts: Joseph O'Hare, 804-819-2156
Greg Snyder, 804-819-2383

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